s152-01

Gladful ready to make Indian breakfasts protein-rich

The Indian diet may be rich in carbohydrates, but in terms of protein, we are not at par with our global peers. According to several medical journals available online, the protein intake in the country is much lower than the 48 grams recommended by the Indian Council of Medical Research (ICMR). The 2022 National Family Health Survey (NFHS-5) also highlighted this deficit, finding that 80% of India's population does not meet their daily protein requirements.

Now, the basis of India's protein deficit comes from the food habits embedded in our culture. We are proud to be the best vegetarian country in the world. About 38% to 40% of the total population avoids meat, which is the main source of protein.

Although the results are not visible, protein deficiency can lead to muscle loss and weakness, decreased bone growth and density, and stunted growth and anemia.

Similar was the case with Parul Sharma, head of Modern Trade at FMCG major Mondelez, who felt that their "family nutrition" was strong. However, a routine paediatric check-up for their son in 2020 revealed the truth of the protein deficiency in their home.

To cure the deficiency of the son, the doctor advised to include protein-containing biscuits in the child's diet. Next came his son's objection to taking the prescribed protein supplement. To be precise, it was from this point that Sharma's quest to find a healthy protein alternative for her child inside her kitchen began, something that she believes is the concern of almost 93% of Indian mothers.

Like most Indians, Sharma was reluctant to turn to protein supplements. At that time, many incidents of drug manipulation in such products had come to light. Given the situation, it is natural to turn to more natural protein sources.

In their quest to find foods that are not only rich in protein but also in taste, she roped in her brother Manu Sharma, a chartered accountant by profession.

Founded in 2021, Gladful's motto is to create everyday vegan meals that are high in protein and fiber. Since its launch, Gladful has attracted a healthy customer base, selling to around 20K customers per month and generating revenue of Rs. 2.3 crore in FY 2022-23 (FY23). Sharma claims that a large part of their sales comes from repeat customers.

Gladful's growth aligns with the emerging trends in India's protein-based market. According to the IMARC Group, India's protein-based products market, including protein bars, powders, supplements, beverages, ice creams, cereals and snacks, is expected to reach $150.8 billion by 2032, growing at a CAGR of 15.8 per cent.

Despite the potential, Gladful faced significant challenges in convincing people to switch from traditional diets to healthier options.

Unlike the others, which aimed to disrupt established industries, Gladful intended to supercharge the existing breakfast habits of Indians without altering their preferences. India's breakfast culture revolves around dishes like uppumavu, paratha, dosa, idli and cheela.

FMCG giants like Kellogg's have tried to introduce cereals but haven't had much impact on India's preference while dominating the great Indian "nashta," she said.

Ultimately, Indians love to have a hot breakfast and these five favourite breakfast items will continue to be their first priority. So, what we're doing with Gladful is to focus on the protein and get them to eat what they eat. With an infusion of bamboo-based protein, our dosa batter has 4 times more protein than any conventional batter. All our products are similar to this, "Sharma added.

However, a crucial limitation for Gladful to enter Indian kitchens is its price tag. According to Sharma, this brand may be premium for many, but that's not the case in metro cities.

"Compared to other products in the Indian market, our products are a bit expensive (around 20 to 30%, but I think our customers are willing to invest a bit more in terms of healthier alternatives without compromising on the taste. Our main USP is to offer protein. The lowest palm oil, hydrogen fat, trans fat or maida content, helped us make a name for ourselves in the breakfast market, "Sharma said.

Currently, Gladful's SKU count is 18, which includes high-protein cookies, soybean-based snacks, date bites, and fried snacks. Still, Sharma says 70% of the company's revenue comes from the breakfast category, while the rest of the snack categories bring in the rest of the company's sales.

Gladful rises to fame

Interestingly, Gladful has received a high boost in its business after appearing on Shark Tank India's Season 2 earlier this year.

The exposure from the show, in which Aman Gupta, Namita Thapar and Amit Jain together invested Rs 50 lakh, has led to a significant increase in monthly sales, which the company claims has gone up by 10,000 to 18,000-20, 000 transactions per month since their appearance on the show.

Another crucial marketing push for the Jaipur-based startup came from "Label Padhega India," a social media trend popularised by influencer Revanth Himatsingka.

Sharma's extensive experience with Mondelez as the head of modern trade helped Gladful. She has also been instrumental in fine-tuning Goldfull's marketing strategy, which directly targets mothers looking for healthier alternatives for their children.

The startup leverages a substantial community of home chefs who review its products, create content for them, and publish independent reviews.

Gladfull's journey ahead

Despite all efforts, Gladful remains a loss-making institution. In FY23, the company recorded a revenue of Tk 2.29 crore, but incurred a loss of Tk 90.92 lakh, with a total expenditure of Tk 3.51 crore. Significantly, a significant amount (INR 1.84 crore) was spent on packaging and marketing.

Since its inception, the company has raised Rs 13 crore from investors such as Antler India, Huddle, Ankita Vashishtha of Tholons Capital, Shantanu Deshpande of Bombay Shaving Company and Shark.

In January 2024, Gladful secured Rs 6 crore in seed funding from undisclosed investors to fuel its expansion plans and avoid the loss-making tag.

"Going forward, our primary focus is to consolidate our breakfast portfolio with new SKUs and expand to new e-commerce platforms beyond Amazon, Flipkart, JioMart, BigBasket, Blinkit and our website," Sharma said.

Currently, it competes with companies like MTR, ITC and ID Fresh Food, and Sharma is looking to focus on offline expansion. They aim to have an offline sale in Jaipur in the next 12 months.

Category

Author

:

Jeroj

Date

:

July 9, 2024

Share

:

Join our WhatsApp Group for more updates!

Recent Posts